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AUD/USD
On Monday, the Australian dollar reached the MACD line on the daily chart and today pulled back from resistance. The signal line of the Marlin oscillator is turning down from its own resistance at 0.0059 for the third time.
When the price breaks below yesterday's low of 0.6537, it will signal its intention to further develop a downward move towards 0.6450.
On the four-hour chart, it is preferable to wait for the price to consolidate below 0.6537. In this case, it will be more likely to test the MACD line in the area around 0.6512.
A firm move below the MACD line opens the target at 0.6450. The Marlin oscillator's signal line has entered the territory of a downward trend. The Aussie's decline has begun well.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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